Bitcoin: Is it possible that we are just consolidating?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
What this chart shows is the potential emergence of a symmetrical candle sequence that will drive Bitcoin to a sideways consolidation phase for the next 6 months. The same pattern was developed after the ATH with a strong Channel Down towards the 6,000 low followed by a sequence of successive Lower Highs that narrowed down the price action so much leading to the November - December sharp decline and the recent Lower High. So far this is the common factor between the two patterns and the similarities lead us to believe that an identical Lower High sequence can be followed.

This is aligned to the general long term outlook of BTCUSD based on its historical volatility within the parabolic curve. Most models suggest that if the recent low was the long term bottom, Bitcoin will consolidate for an average period of 6 months in preparation/ accumulation of the next bull cycle. See our long term studies below and tell us what you think:

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Ding! Ding! Ding! Ding! The BTC train will depart shortly...
No. We are just preparing to the next free-fall.

No consolidation over $2000
Thank for sharing and allow me to share my view On BTC/USD (15 Jan 2018)

Markets can be very predictable, as they are formed by people, and thus they behave like people!
We expected a swing around 3,500 and it happened.

Now it should be on its way toward $3,800 again.

Our Analysis

LONG (entry is valid as long as the price is above $3,000)
SL $2,820

TP1 $3,800
TP2 $4,190
TP3 $4,550
TP4 $5,500
TP5 $5,690

Odds are below 1%.
Below 0.0001% even.
Never been so sure, would be my life on it lmao.
+2 Reply
martinlih martinlih
Thank you! have stops at 4k too.. looking forward for extended consoldation :D

would appreciate your feedback, support on my chart ^_^

+1BTCUSD@3600 - PL: +120(+3.3%) - TP 20%
+1 Reply
Great charts, thanks a lot for sharing.

Is it possible people would be happier if they didn't care so much about what Bitcoin is doing?
I think yes, but consolidation will be at a lower range. This is my idea about that lower range. Volume is to low for this bitcoin value.

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